2015/2016 Annual financial report

Over the 2015/2016 financial period, consolidated turnover for the Group amounted to €28,117,957 compared to €27,337,110 one year earlier. Commercial activity in particular benefited from the strong momentum, both nationally and internationally, in the sale and rental activities of licences for SME/SMI and major accounts. Operating income, up 7.6%, amounts to €7,349,242 inducing 26.1% for operational profitability**. Along the same lines, net income amounted to €5,489,257, up 3.8%, as such bringing net profitability*** to 19.5%.

In parallel, IGE+XAO continued its expansion abroad, with in particular, the creation of a commercial office in Moscow and the operational launchings of Brazilian and Belgian commercial subsidiaries. From a technical standpoint, the period was also very active with a lot of work done on the interoperability between the "SEE Electrical Expert" product and the PROSYST ("ODIL and SIMAC") offering, the distribution of the new "3D Panel" software (design and manufacture of electrical cabinets in 3D) and the integration of the Group's products with PLM "Product Lifecycle Management" leading software in the international market.

Backed with these results and its solid fundamentals, the IGE+XAO Group intends to continue its action plan focusing on accelerating international development and maintaining strong investment in R&D, while still preserving a high level of profitability.

* The consolidated financial statements were approved by the Board of Directors on 26 October 2016 and will be submitted for approval to the Annual Shareholders' Meeting.